Zhong An aids Grab’s app rollout

Zhong An’s subsidiary Zhong An Technologies International and Grab Holdings have established a joint venture company for digital insurance distribution in South-East Asia.

The platform will partner with insurers and be launched in Singapore in the first half of 2019, before being rolled out in other markets; these will include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Thailand, Timor-Leste and Vietnam.

The first product will offer protection for its drivers in Singapore from loss of income owing to illness or accidents through Chubb.

Ming Maa, president of Grab, said: “The launch of our insurance platform is part of our commitment to becoming the leading everyday superapp in the region. With over 130 million downloads in South-East Asia and a presence across 336 cities, our deep understanding of consumer behaviour and needs uniquely allows us to deliver innovative insurance products that create value for our customers.”

Zhong An Technologies International will bring technical assets to build the platform and insight into internet ecosystems.

Wayne Xu, vice general manager of Zhong An, and in charge of international business, said: “During the past five years, Zhong An Insurance has accumulated rich experience providing a new generation of customers with protection against risks in daily life. We have joined hands with over 300 internet ecosystem partners and exported our technology solutions, with a shared aim to build an insurance ecosystem centered on Zhong An.”

He added: “We’re confident we can better meet the insurance needs of customers in South East Asia, with Grab and other leading insurance companies.”

Last year Grab expanded into food delivery, parcel delivery, grocery delivery and financial services, and it wants to further expand into cross-border remittance and online healthcare.